UBS Group Has Lowered Expectations for Trade Desk (NASDAQ:TTD) Stock Price

Trade Desk (NASDAQ:TTD) had its price objective cut by analysts at UBS Group from $116.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. UBS Group’s price target would suggest a potential upside of 64.38% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Oppenheimer dropped their target price on Trade Desk from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Citigroup dropped their price target on shares of Trade Desk from $140.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Morgan Stanley reduced their price objective on shares of Trade Desk from $145.00 to $132.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Wedbush boosted their target price on Trade Desk from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Finally, Evercore ISI downgraded Trade Desk from an “outperform” rating to an “inline” rating and reduced their price target for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $111.79.

Trade Desk Stock Performance

Shares of TTD traded down $0.60 during midday trading on Friday, hitting $48.67. 1,604,284 shares of the company traded hands, compared to its average volume of 5,124,432. Trade Desk has a 52 week low of $42.96 and a 52 week high of $141.53. The firm has a 50 day moving average of $69.64 and a 200-day moving average of $104.06. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 62.46, a PEG ratio of 3.11 and a beta of 1.56.

Trade Desk (NASDAQ:TTD) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.21). Trade Desk had a net margin of 16.08% and a return on equity of 16.38%. Sell-side analysts predict that Trade Desk will post 1.06 earnings per share for the current fiscal year.

Trade Desk announced that its Board of Directors has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $564.00 million in shares. This buyback authorization permits the technology company to reacquire up to 0.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Samantha Jacobson sold 4,298 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $118.56, for a total transaction of $509,570.88. Following the sale, the insider now directly owns 90,709 shares of the company’s stock, valued at $10,754,459.04. This trade represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.72% of the company’s stock.

Hedge Funds Weigh In On Trade Desk

Large investors have recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV purchased a new position in Trade Desk in the 4th quarter valued at about $25,000. Rialto Wealth Management LLC acquired a new stake in shares of Trade Desk in the fourth quarter worth approximately $26,000. Harbor Investment Advisory LLC increased its position in shares of Trade Desk by 68.8% during the fourth quarter. Harbor Investment Advisory LLC now owns 287 shares of the technology company’s stock worth $34,000 after purchasing an additional 117 shares in the last quarter. Synergy Asset Management LLC acquired a new position in Trade Desk in the 4th quarter valued at $34,000. Finally, Midwest Capital Advisors LLC purchased a new position in Trade Desk in the 4th quarter valued at $34,000. 67.77% of the stock is currently owned by institutional investors and hedge funds.

Trade Desk Company Profile

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.